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MRM logoMEDIROM Healthcare Technologies Inc.(MRM)Earnings, Financials & Key Ratios

MRM•NASDAQ
$1.19
$6M mkt cap·6.5× P/E·Price updated May 6, 2026
SectorConsumer CyclicalIndustryPersonal ServicesSub-IndustryHealth, Fitness and Wellness Services
AboutMEDIROM Healthcare Technologies Inc. provides holistic healthcare services in Japan. It operates in two segments, Relaxation Salon and Digital Preventative Healthcare. The Relaxation Salon segment owns and franchises relaxation salons, which provide finger-pressure style bodywork therapy, stretch therapy, and posture and joint alignment, as well as physical therapy elements; and various individual services, including anti-fatigue therapy, athletic support therapy, slim-down therapy, and reflexology. As of December 31, 2021, this segment operated 312 relaxation salons under the Re.Ra.Ku and Ruam Ruam brand. The Digital Preventative Healthcare segment offers government-sponsored Specific Health Guidance program, utilizing Lav, its internally developed on-demand health monitoring smartphone application; MOTHER Tracker for fitness applications; and preventative healthcare services utilizing its digital application and devices. MEDIROM Healthcare Technologies Inc. also operates Re.Ra.Ku College that offers continuing training for franchise owners, home office staff, and salon staff covering topics, such as customer service, salon operations, and relaxation techniques located in the Odaiba area in Tokyo. The company was formerly known as MEDIROM Inc. and changed its name to MEDIROM Healthcare Technologies Inc. in March 2020. MEDIROM Healthcare Technologies Inc. was incorporated in 2000 and is headquartered in Tokyo, Japan.Show more
  • Revenue$8.3B+21.5%
  • EBITDA$272M+295.7%
  • Net Income$149M+29.3%
  • EPS (Diluted)28.52+28.1%
  • Gross Margin27.07%+17.8%
  • EBITDA Margin3.28%+261.0%
  • Operating Margin-0.22%+96.2%
  • Net Margin1.79%+6.4%
  • ROE21.19%-85.6%
  • ROIC-0.32%+96.6%
  • Debt/Equity3.33-80.3%
  • Interest Coverage1.96+25.6%
Technical→

MRM Key Insights

MEDIROM Healthcare Technologies Inc. (MRM) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Excellent 3Y average ROE of 84.1%
  • ✓Strong 5Y profit CAGR of 53.7%
  • ✓Strong 5Y sales CAGR of 16.3%
  • ✓Trading at only 0.9x book value
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

  • ✗High debt to equity ratio of 3.3x
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 12 (bottom 12%)
  • ✗Shares diluted 13.3% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

MRM Price & Volume

MEDIROM Healthcare Technologies Inc. (MRM) stock price & volume — 10-year historical chart

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MRM Growth Metrics

MEDIROM Healthcare Technologies Inc. (MRM) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years16.25%
3 Years15.33%
TTM15.99%

Profit CAGR

10 Years-
5 Years53.71%
3 Years-
TTM275.69%

EPS CAGR

10 Years-
5 Years47.68%
3 Years-
TTM201.3%

Return on Capital

10 Years-6.33%
5 Years-10.59%
3 Years-3.11%
Last Year-0.5%

MRM Recent Earnings

MEDIROM Healthcare Technologies Inc. (MRM) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
May 5, 2026
EPS
$0.05
Revenue
$4M
Est $4M
+0.0%
Q2 2025
Apr 29, 2025
EPS
$0.79
Revenue
$31M
Q3 2024
Jun 30, 2024
EPS
$0.74
Revenue
$22M
Q3 2024
Jun 18, 2024
EPS
$0.62
Revenue
$26M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.05
$4Mvs $4M+0.0%
Q2 2025Apr 29, 2025
$0.79
$31M
Q3 2024Jun 30, 2024
$0.74
$22M
Q3 2024Jun 18, 2024
$0.62
$26M
Based on last 12 quarters of dataView full earnings history →

MRM Peer Comparison

MEDIROM Healthcare Technologies Inc. (MRM) competitors in Health, Fitness and Wellness Services — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
XPOF logoXPOFXponential Fitness, Inc.Direct Competitor247.38M6.63-4.51-1.71%-11.08%
PLNT logoPLNTPlanet Fitness, Inc.Direct Competitor5.31B63.9631.9810.3%15.97%
MNMD logoMNMDMind Medicine (MindMed) Inc.Direct Competitor2.04B20.69-10.04-55.3%
HIMS logoHIMSHims & Hers Health, Inc.Direct Competitor6.94B26.8852.7159%5.47%23.73%2.07
ACMR logoACMRACM Research, Inc.Direct Competitor3.67B55.3840.4215.24%10.44%6.11%0.16
PTON logoPTONPeloton Interactive, Inc.Product Competitor2.21B5.20-17.33-7.77%-2.09%
GDRX logoGDRXGoodRx Holdings, Inc.Product Competitor880.73M2.5730.130.57%3.74%4.75%0.10
TDOC logoTDOCTeladoc Health, Inc.Supply Chain1.23B6.80-5.96-1.54%-6.81%-12.37%0.75

Compare MRM vs Peers

MEDIROM Healthcare Technologies Inc. (MRM) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs XPOF

Most directly comparable listed peer for MRM.

Scale Benchmark

vs HIMS

Larger-name benchmark to compare MRM against a more recognizable public peer.

Peer Set

Compare Top 5

vs XPOF, PLNT, MNMD, HIMS

MRM Income Statement

MEDIROM Healthcare Technologies Inc. (MRM) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue3.43B3.91B3.34B5.41B6.95B6.83B8.3B11.91B
Revenue Growth %-13.84%-14.5%61.89%28.54%-1.81%21.55%15.99%
Cost of Goods Sold2.48B2.96B2.91B3.99B5.05B5.26B6.05B8.77B
COGS % of Revenue72.13%75.67%87.16%73.84%72.64%77.02%72.93%-
Gross Profit
956.87M▲ 0%
950.76M▼ 0.6%
428.95M▼ 54.9%
1.42B▲ 230.0%
1.9B▲ 34.4%
1.57B▼ 17.5%
2.25B▲ 43.2%
3.14B▲ 0%
Gross Margin %27.87%24.33%12.84%26.16%27.36%22.98%27.07%26.36%
Gross Profit Growth %--0.64%-54.88%229.97%34.41%-17.53%43.18%-
Operating Expenses850.61M905.21M1.18B1.89B1.81B1.96B2.26B3.24B
OpEx % of Revenue24.78%23.16%35.16%34.86%25.96%28.71%27.28%-
Selling, General & Admin842.82M871.86M1.07B1.81B1.81B1.96B2.24B3.22B
SG&A % of Revenue24.55%22.31%31.98%33.47%25.96%28.71%27.01%-
Research & Development00000000
R&D % of Revenue--------
Other Operating Expenses033.35M106.5M75.21M0022.87M1000K
Operating Income
114.05M▲ 0%
78.9M▼ 30.8%
-746.09M▼ 1045.7%
-470.59M▲ 36.9%
96.97M▲ 120.6%
-391.58M▼ 503.8%
-18.1M▲ 95.4%
-105.07M▲ 0%
Operating Margin %3.32%2.02%-22.33%-8.7%1.39%-5.73%-0.22%-0.88%
Operating Income Growth %--30.82%-1045.66%36.93%120.61%-503.83%95.38%-
EBITDA158.31M125.07M-683.8M-344.34M281.02M-138.98M271.94M338.42M
EBITDA Margin %4.61%3.2%-20.46%-6.37%4.04%-2.04%3.28%2.84%
EBITDA Growth %--21%-646.73%49.64%181.61%-149.46%295.66%77.05%
D&A (Non-Cash Add-back)44.27M46.17M62.29M126.24M184.06M252.59M290.04M443.48M
EBIT107.41M46.33M-613.46M-402.53M189.57M57.49M97.46M11.66M
Net Interest Income-14.7M-12.26M-11.9M-11.11M-3.73M-35.76M-49.74M-44.81M
Interest Income785K1.34M1.33M839K6.07M1.11M8K-15.74M
Interest Expense15.48M13.59M13.23M11.95M9.8M36.87M49.74M20.8M
Other Income/Expense-22.48M-1.05M119.4M56.11M82.81M412.2M65.81M520.08M
Pretax Income
91.56M▲ 0%
33.3M▼ 63.6%
-626.69M▼ 1982.2%
-414.48M▲ 33.9%
179.77M▲ 143.4%
20.62M▼ 88.5%
47.71M▲ 131.4%
415.01M▲ 0%
Pretax Margin %2.67%0.85%-18.75%-7.66%2.59%0.3%0.57%3.49%
Income Tax25.25M15.96M-87.52M576.25M30.81M-94.43M-90.48M-188.64M
Effective Tax Rate %27.58%47.94%13.97%-139.03%17.14%-457.89%-189.63%-45.45%
Net Income
66.31M▲ 0%
17.34M▼ 73.9%
-539.17M▼ 3210.3%
-990.73M▼ 83.8%
148.97M▲ 115.0%
115.05M▼ 22.8%
148.76M▲ 29.3%
614.58M▲ 0%
Net Margin %1.93%0.44%-16.13%-18.31%2.14%1.69%1.79%5.16%
Net Income Growth %--73.86%-3210.3%-83.75%115.04%-22.77%29.3%275.69%
Net Income (Continuing)66.31M17.34M-539.17M-990.73M148.97M115.05M138.19M603.65M
Discontinued Operations00000000
Minority Interest000005.08M254.79M382.25K
EPS (Diluted)
14.04▲ 0%
4.06▼ 71.1%
-133.97▼ 3399.8%
-203.13▼ 51.6%
27.23▲ 113.4%
22.27▼ 18.2%
28.52▲ 28.1%
77.78▲ 0%
EPS Growth %--71.08%-3399.75%-51.62%113.41%-18.22%28.06%201.3%
EPS (Basic)18.064.63-133.97-203.1330.5423.6429.13-
Diluted Shares Outstanding4.72M4.27M4.02M4.88M5.47M5.17M5.85M7.9M
Basic Shares Outstanding4.72M4.27M4.02M4.88M5.47M5.17M5.11M7.9M
Dividend Payout Ratio--------

MRM Balance Sheet

MEDIROM Healthcare Technologies Inc. (MRM) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets934.04M1.38B2.09B1.38B2.36B1.76B2.71B8.4M
Cash & Short-Term Investments244.71M552.14M1.47B377.12M605.95M132.85M335.56M268.75K
Cash Only211.69M513.62M1.44B370.62M605.45M106.35M329.4M226.13K
Short-Term Investments33.02M38.52M32.52M6.5M500K500K6.16M42.62K
Accounts Receivable283M337.05M148.54M312.3M534.69M1.23B2B4.6M
Days Sales Outstanding30.0931.4816.2221.0728.0665.6488.0429.49
Inventory6.4M5.51M7.96M18.7M114.11M139.98M151.64M1.21M
Days Inventory Outstanding0.940.6811.718.249.729.144.72
Other Current Assets359.88M436.54M411.28M563.01M815.82M0217.17M2.32M
Total Non-Current Assets3.59B3.38B3.63B4.37B4.38B5.09B5.38B46.95M
Property, Plant & Equipment2.27B2B1.81B2.25B2.38B2.54B2.51B15.67M
Fixed Asset Turnover1.51x1.96x1.84x2.41x2.92x2.69x3.31x6.41x
Goodwill63.95M78.28M150.72M600.33M539.49M484.56M389.13M0
Intangible Assets76.28M77.64M97.61M391.04M403.67M920.7M1.14B22.16M
Long-Term Investments51.98M14.04M500K53.02M53.02M81.54M87.42M251.64M
Other Non-Current Assets1.12B1.21B1.56B1.08B1.01B961.14M973.46M2.96B
Total Assets
4.52B▲ 0%
4.76B▲ 5.2%
5.71B▲ 20.1%
5.75B▲ 0.7%
6.75B▲ 17.3%
6.85B▲ 1.5%
8.09B▲ 18.1%
55.36M▲ 0%
Asset Turnover0.76x0.82x0.58x0.94x1.03x1.00x1.03x2.29x
Asset Growth %-5.21%20.09%0.69%17.28%1.51%18.13%-83.24%
Total Current Liabilities2.35B2.26B2.65B3.2B3.64B3.56B4.18B34.53M
Accounts Payable141.32M122.59M67.02M230.9M207.58M137.7M1.01B9.82M
Days Payables Outstanding20.8315.138.421.1159.5661.1613.39
Short-Term Debt413.74M371.57M242.28M162.25M99.17M500.42M1.11B14.16M
Deferred Revenue (Current)00633.73M722.7M0512.05M463.19M977.98M
Other Current Liabilities648.78M616.53M162.13M459.54M1.18B370.21M414.7M7.53M
Current Ratio0.40x0.61x0.79x0.43x0.65x0.49x0.65x0.65x
Quick Ratio0.39x0.61x0.78x0.43x0.62x0.45x0.61x0.61x
Cash Conversion Cycle10.217.038.821.6821.3165.836.0220.82
Total Non-Current Liabilities2.29B1.89B2.57B2.76B3.16B3.07B2.72B17.38M
Long-Term Debt342.77M150.53M668.38M746.59M1.15B1.05B764.2M4.99M
Capital Lease Obligations1.32B1.14B992.89M1.13B1.21B1.33B1.29B3.85B
Deferred Tax Liabilities00000000
Other Non-Current Liabilities621.8M607.39M908.35M889.61M802.36M687.2M632.51M1.98B
Total Liabilities4.64B4.16B5.22B5.96B6.81B6.63B6.9B51.91M
Total Debt2.85B2.36B2.56B2.79B3.23B3.65B3.96B27.12M
Net Debt2.64B1.85B1.12B2.42B2.63B3.54B3.63B26.9M
Debt / Equity-3.94x5.21x--16.90x3.33x3.33x
Debt / EBITDA18.00x18.89x--11.50x-14.55x0.08x
Net Debt / EBITDA16.66x14.79x--9.34x-13.34x13.34x
Interest Coverage6.94x3.41x-46.35x-33.68x19.34x1.56x1.96x0.56x
Total Equity
-117.56M▲ 0%
600.06M▲ 610.4%
491.26M▼ 18.1%
-208.34M▼ 142.4%
-59.38M▲ 71.5%
215.96M▲ 463.7%
1.19B▲ 450.1%
3.45M▲ 0%
Equity Growth %-610.45%-18.13%-142.41%71.5%463.71%450.13%1026.87%
Book Value per Share-24.90140.45122.06-42.72-10.8541.80203.030.44
Total Shareholders' Equity-117.56M600.06M491.26M-208.34M-59.38M210.88M933.27M3.07M
Common Stock245.1M595.1M1.18B1.22B1.22B20M352.62M2.44M
Retained Earnings-722.64M-705.31M-1.7B-2.69B-2.55B80.28M229.04M-3.19M
Treasury Stock-3M-3M-3M-3M-3M-3M-3M-20.77K
Accumulated OCI-278K0000000
Minority Interest000005.08M254.79M382.25K

MRM Cash Flow Statement

MEDIROM Healthcare Technologies Inc. (MRM) cash flow — operating, investing & free cash flow history

Line itemDec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations141.87M7.87M-366.42M-557.23M-685.7M-631.74M-1.33B-1.33B
Operating CF Margin %4.13%0.2%-10.97%-10.3%-9.86%-9.25%-16.05%-
Operating CF Growth %--94.45%-4755.91%-52.07%-23.05%7.87%-110.8%-2250.48%
Net Income66.31M17.34M-539.17M-990.73M148.97M115.05M138.19M614.58M
Depreciation & Amortization44.27M46.17M62.29M126.24M184.06M252.59M290.04M443.48M
Stock-Based Compensation149K00196.85M0000
Deferred Taxes00000-101.64M-188.71M-188.71M
Other Non-Cash Items151.54M42.88M-156.66M1.9M-968.78M-1.4B-1.57B-2.74B
Working Capital Changes-120.39M-98.52M267.12M108.5M-49.94M498.76M1.97M528.34M
Change in Receivables30.17M-66.88M189.14M-37.02M-222.38M580.68M299.96M969.11M
Change in Inventory6.92M892K-2.44M-2.44M-95.41M-25.87M-10.61M43.37M
Change in Payables00000-69.88M876.51M875.59M
Cash from Investing-79.39M-37.93M-139.6M-83.94M580.44M-328.58M361.39M-272.59M
Capital Expenditures-34.3M-7.41M-73.56M-95.65M-120.74M-135.84M-71.41M-152.65M
CapEx % of Revenue1%0.19%2.2%1.77%1.74%1.99%0.86%-
Acquisitions-60.27M-3.2M-99.19M54.24M-148M584.77M887.07M888.46M
Investments--------
Other Investing15.18M-27.32M33.15M30.39M849.18M-774.41M-478.18M-1.03B
Cash from Financing-74.47M331.99M1.43B-427.95M340.1M461.21M1.19B1.45B
Debt Issued (Net)-254.47M-241.91M388.56M-251.08M502.35M300.92M324.96M325.59M
Equity Issued (Net)0700M1.17B000868.38M868.38M
Dividends Paid00000000
Share Repurchases00000000
Other Financing180M-126.09M-125.06M-176.87M-162.25M160.29M0257.27M
Net Change in Cash
-11.99M▲ 0%
301.93M▲ 2618.0%
926.11M▲ 206.7%
-1.07B▼ 215.4%
234.84M▲ 122.0%
-499.11M▼ 312.5%
223.05M▲ 144.7%
319.11M▲ 0%
Free Cash Flow
107.57M▲ 0%
464K▼ 99.6%
-439.98M▼ 94922.4%
-652.88M▼ 48.4%
-806.44M▼ 23.5%
-767.58M▲ 4.8%
-1.9B▼ 147.1%
-2B▲ 0%
FCF Margin %3.13%0.01%-13.17%-12.07%-11.6%-11.24%-22.85%-16.8%
FCF Growth %--99.57%-94922.41%-48.39%-23.52%4.82%-147.08%-38.82%
FCF per Share22.780.11-109.32-133.86-147.41-148.56-324.10-324.10
FCF Conversion (FCF/Net Income)2.14x0.45x0.68x0.56x-4.60x-5.49x-8.95x-3.25x
Interest Paid17.01M11.87M10.22M10.87M7.54M34.58M47.56M33.65M
Taxes Paid14.78M24.34M7M45.51M30.81M52.1M12.78M12.78M

MRM Key Ratios

MEDIROM Healthcare Technologies Inc. (MRM) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201920202021202220232024TTM
Return on Equity (ROE)7.19%-98.81%-700.38%-146.95%21.19%235.66%
Return on Invested Capital (ROIC)2.38%-27.55%-18.44%3.04%-9.29%-0.32%-0.32%
Gross Margin24.33%12.84%26.16%27.36%22.98%27.07%26.36%
Net Margin0.44%-16.13%-18.31%2.14%1.69%1.79%5.16%
Debt / Equity3.94x5.21x--16.90x3.33x3.33x
Interest Coverage3.41x-46.35x-33.68x19.34x1.56x1.96x0.56x
FCF Conversion0.45x0.68x0.56x-4.60x-5.49x-8.95x-3.25x
Revenue Growth13.84%-14.5%61.89%28.54%-1.81%21.55%15.99%

MRM Frequently Asked Questions

MEDIROM Healthcare Technologies Inc. (MRM) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

MEDIROM Healthcare Technologies Inc. (MRM) reported $11.91B in revenue for fiscal year 2024. This represents a 247% increase from $3.43B in 2018.

MEDIROM Healthcare Technologies Inc. (MRM) grew revenue by 21.5% over the past year. This is strong growth.

Yes, MEDIROM Healthcare Technologies Inc. (MRM) is profitable, generating $614.6M in net income for fiscal year 2024 (1.8% net margin).

Dividend & Returns

MEDIROM Healthcare Technologies Inc. (MRM) has a return on equity (ROE) of 21.2%. This is excellent, indicating efficient use of shareholder capital.

MEDIROM Healthcare Technologies Inc. (MRM) had negative free cash flow of $2.00B in fiscal year 2024, likely due to heavy capital investments.

Explore More MRM

MEDIROM Healthcare Technologies Inc. (MRM) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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